Ar_home_b_search
 

Here's why a home mortgage payment calculator should actually be called an amortization calculator. Day 5 in a continuing series...

If you know these three things you can solve for PI. "P" stands for principal and "I" stands for interest. PI is normally expressed as a monthly mortgage payment of principal and interest.

As long as you have at least 3 out of 4 factors (term, interest rate, principal, payment) you can solve for the remaining factor.

Some online mortgage home calculators allow you to also view and even print out an amortization schedule.

An amortization schedule is simply a spread sheet showing monthly and/or annual payments. You can even see how much interest is being paid each month and the amount of principal you are paying down.

Until tomorrow with part six, 

Kate Ford = MortgageBuddy on Twitter

 

 
Post is included in group: All About Mortgages/Mortgage Networking
Post is included in group: Loan Officers - The tough nut to crack
Post is included in group: Mortgage Marketing Tips and Strategies
Post is included in group: The Economics of Real Estate
Post is included in group: The FHA Mortgage Group

4 Comments on Mortgage Payment Calculator [If You Know Three Things] Day Five

APR
24
2009
649,173 Points 29 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Great information for your clients.  I love what technology offers!!
9:09am • #1
210,501 Points 5 Featured Posts

Marchel, When I think of the silly old things we used to use to calculate payments... yep, I too love technology! 

The really great part is that homeowners can use this home payment calculator to easily create and print their customized amortization schedules. Another way for Joe The Homeowner to take control of destiny. :) kate ford
7:43pm • #2
APR
28
2009
688,676 Points 117 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Kate,

Don't you wonder how long it took to figure out an amortization schedule before the advent of the mortgage calculator?!

Mike in Tucson
5:19am • #3
210,501 Points 5 Featured Posts

Mike, I'm on the treadmill last week at the gym and everyone is watching music videos. I'm on a financial channel.

The panel is laughing together and it goes something like, "Does anyone else besides us find this stuff fascinating? Yes, we are geeks and need to get a life."

  • I have earbuds stuffed in my ears so I don't hear myself laughing out loud. :) kate ford
9:25am • #4

What does the graphic say?

Leave a response…

(optional)
What does the graphic say?
 
Kate-twitter Rainmaker_large

Ask Kate for answers

Las Vegas, NV

More about me…

Get Your Best Mortgage Rate & First Time Home Buyer Tips

Cell Phone: (702) 767-2589

Email Me

Get Your Best Mortgage Rate
How to get a mortgage and how to find a mortgage professional by Ask Kate

First Time Home Buyer Tips
How to buy a home and how to find a Realtor by Ask Kate


Listings

Links

Archives

RSS 2.0 Feed for this blog